Popcorn Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Popcorn Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Global Popcorn Market is projected to register a CAGR of 7.1% over the forecast period (2019-2024).

Key Highlights

• Popcorn, as a category is fast shedding its image as an accompaniment for movie watching, into a light snack that satiates consumers while being light on calories. This property has led to the phenomenal growth of the ready-to-eat popcorn category.

Key Highlights

• The popcorn market has also seen the influence of the trends driving the larger snacking industry. With the emergence of a wide variety of flavors, consumer choices are shifting towards gourmet popcorn. Moreover, other trends such as all-natural flavors and clean label ingredients are also impacting product launches by companies in the popcorn market.

Key Market TrendsRTE Popcorn Driving Snacking Innovation

The category of ready-to-eat (RTE) popcorn has seen phenomenal growth over the review period (2016-2018) and is projected to be at the forefront of the growth of the overall popcorn category over the forecast period (2019-2024). The category has not only seen innovations in terms of new flavors that tap into consumer cravings, but also with respect to meeting the needs of the consumer in terms of healthy, all-natural and clean label ingredients. For instance, Smartfood, a brand owned by PepsiCo has a wide product portfolio catering to each of these consumer needs. In 2014, the company introduced the Delight line of reduced-fat popcorn, which claims to contain just 35 calories per cup. In addition to traditional flavors such as salted, cheese and caramel, the brand is also available in gourmet flavors such as sea-salted caramel, white cheddar, rosemary and olive oil, sea salt, and chipotle aged cheddar. From the perspective of satiating consumer needs, both from an indulgence and health point of view, as well as because of its inherent ability to tap the best of emerging distribution channels such as online retail, the RTE popcorn segment is expected to drive the overall growth of the popcorn category.

North America Driving the Global Market

North America has traditionally been the largest market for popcorn globally. The emergence of the trend of healthy snacking has impacted the growth of the popcorn market in the region. In the United States, the retail sales of popcorn have increased by over 32% since 2012. Much of this growth can be attributed to the double-digit growth rate associated with ready-to-eat popcorn. In addition to the emergence of new flavors and the healthy snacking trend, consumers are also increasingly looking for accompaniments to popcorn, driving the consumption of mix-ins such as popcorn with dried cranberries or candies.

Competitive Landscape

The Global Popcorn Market is moderately fragmented with a significant presence of global players and private labels. New entrants to the market are focused on tapping niche segments such as gourmet popcorn, popcorn with new flavors and are also piggy-backing on the health and wellness trends associated with snacking. The market is fiercely competitive and market-leading brands are increasingly focusing on product line expansions to emerge as category winners.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Con Agra Brands, Inc.
Pepsico, Inc.
Hershey's Company
Snyder's
Lance Inc.
Weaver Popcorn Company, Inc.
Hain Celestial Group, Inc.
Quinn Foods, LLC.
Intersnack Group GmbH & Co. KG.

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